HIVE Is Not Moving May Point To Trouble Ahead or To An Unexpected Pump

HIVE didn't move quite significantly as BTC went up and it is almost sitting at the same price $0.145 . Well, it can be a trouble for the whole HIVE community economically and its rank would fall even lower. Let's get into the chart

The price actions is so low that it is not able to overcome its previous local resistance level $0.1485 and it shows the weakness of the potential trend reversal. Let's dive in a bit more detail.


You can clearly spot the crucial level $0,156 and HIVE needs to close above that level and currently we are struggling to close above the previous local resistance level. IMO, The market look week and it doesn't seem to reverse the trend because it is not able to hold the previous support level.

HIVE price has been going down and down for quite some time. Even after its first partnership with ARK, there is almost no reflection in the price. So there are two ways to look at it. Either the whales are slowly accumulating the HIVE and waiting for the right time to pump when no one is watching HIVE to have the minimal sell pressure. The other case could be is the market is actually week and there is too much sell pressure. I am currently out of HIVE and not trading until it shows some signs in the positive direction. In crypto, anything can happen. Be active and watch the price action before you get into any trade.

Posted Using LeoFinance ^Beta